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1129546

	registered interest
	date	04/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	British Steel: Loans
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether the recent loan of £120 million to enable British Steel to meet its emissions trading compliance costs required a Ministerial direction.
	tabling member printed	Lord Myners
	uin	HL16031
	answer	answer is ministerial correction date of answer 18/06/2019 answer text <p>The Secretary of State for Business, Energy and Industrial Strategy has not issued any Ministerial Directions in respect of British Steel.</p><p>This loan agreement was fully commercial and state aid compliant, valued at around £120m, under Section 7 of the Industrial Development Act 1982. Under the agreement the Government purchased emissions allowances on behalf of British Steel ensuring it met its 2018 ETS obligations. Failure to comply with its ETS obligations would have led to a fine of around £500m, on top of the costs of ETS compliance of around £120m.</p><p>In return, under a deed of forfeiture, the company’s 2019 allowances will be assigned to the Government once issued, and the proceeds from selling these is expected to cover the costs of purchasing allowances for British Steel. The Government’s view is that the 2019 allowances will still be issued to British Steel in insolvency.</p><p>The Government’s assessment is that the Deed of Forfeiture offered value for money to the taxpayer, with benefits exceeding the costs, predicated on the level of confidence around security, even in the event of insolvency.</p><p>This position was supported by the independent Industrial Development Advisory Board which assessed the proposal in their statutory role and agreed with the Government’s value for money assessment.</p><p> </p><p> </p><p> </p> answering member printed Lord Henley question first answered 18/06/2019 16:50:34 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners

1130249

	registered interest
	date	05/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	British Steel: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government when they estimate they will cease to provide financial support to British Steel; whether a specific event will trigger the end of that support; and whether that support will terminate when the Official Receiver has completed their work.
	tabling member printed	Lord Myners
	uin	HL16110
	answer	answer is ministerial correction date of answer 19/06/2019 answer text <p>The immediate priority following the Official Receiver’s appointment as liquidator of British Steel Limited was to continue the safe operation of the sites while options are considered. To enable this, the Government has provided an indemnity to the Official Receiver, who is now responsible for the operations.</p><p> </p><p>The Official Receiver is currently overseeing a sales process as they seek to sell the business. Trading will continue whilst a buyer is sought.</p><p> </p> answering member printed Lord Henley question first answered 19/06/2019 11:33:12 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners

1130251

	registered interest
	date	05/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	British Steel: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they plan to take any action to persuade Greybull Capital and its associates to contribute any gains made from its (1) investment in, and (2) loans to, British Steel towards reducing (a) the deficit of the British Steel Pension Scheme, and (b) the impact of British Steel's collapse on past and present employees.
	tabling member printed	Lord Myners
	uin	HL16112
	answer	answer is ministerial correction date of answer 19/06/2019 answer text <p>The Official Receiver was appointed liquidator of British Steel Limited. In his role as liquidator, the Official Receiver is under a statutory duty to investigate the cause of failure of the company and generally its business, dealings and affairs and has wide-ranging powers to obtain information, material, and explanations.</p><p> </p><p>My rt. hon. Friend the Secretary of State wrote to the Insolvency Service on 22 May requesting that the Official Receiver’s investigation not only looks at the conduct of the directors immediately prior to and at insolvency, but also at the investments made in the company, value transferred out of the company and whether any action by directors has caused detriment to creditors or to the pension schemes.</p><p> </p> answering member printed Lord Henley question first answered 19/06/2019 11:33:53 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners

1130257

	registered interest
	date	05/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Bombardier: Belfast
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what discussions they have had with Bombadier about that firm's decision to sell its Belfast operations.
	tabling member printed	Lord Rogan
	uin	HL16118
	answer	answer is ministerial correction date of answer 17/06/2019 answer text <p>My rt. hon. Friend the Secretary of State, my hon. Friend the Minister for Business and Industry, and government officials have had discussions with Bombardier, and will continue to do so, about their decision to sell the Northern Ireland Aerostructures and Engineering Services operation to focus its aerospace division on business jets.</p><p>The Belfast plant, its expertise and its highly skilled and dedicated staff will be highly sought after. The Government will work with potential buyers to ensure this successful and ambitious business is positioned for future growth.</p> answering member printed Lord Henley question first answered 17/06/2019 12:34:46 answering member 2616 label Biography information for Lord Henley
	tabling member	2478 label Biography information for Lord Rogan

1130599

	registered interest
	date	06/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Greenhouse Gas Emissions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans they have to lay a fully-costed impact assessment before both Houses of Parliament before making any adjustment to the UK’s greenhouse gas emissions reduction target.
	tabling member printed	Lord Donoughue
	uin	HL16143
	answer	answer is ministerial correction date of answer 17/06/2019 answer text <p>The Committee on Climate Change’s (CCC) detailed and analytically rigorous report has shown that this goal is now feasible, deliverable, and can be met within the same cost envelope (an annual resource cost equivalent to 1-2% of GDP in 2050) as was estimated for the 80% target when it was set in 2008. As the CCC identify, there are a wide range of benefits which could partly or fully offset these costs.</p><p>While the transition to a net zero economy undoubtedly requires new investment, it also opens up opportunities for the UK to build on its areas of strength, including in offshore wind manufacture, provision of green finance, and development of electric vehicles.</p><p>Policies to support delivery of a net zero target will be subject to impact assessments in the usual way.</p> answering member printed Lord Henley question first answered 17/06/2019 12:32:47 answering member 2616 label Biography information for Lord Henley
	tabling member	2709 label Biography information for Lord Donoughue

1130633

	registered interest
	date	06/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Carbon Emissions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what steps they are taking to ensure that their plans to reduce carbon emissions to net zero by 2050 do not affect the economic competitiveness of UK industries.
	tabling member printed	Lord Taylor of Warwick
	uin	HL16177
	answer	answer is ministerial correction date of answer 17/06/2019 answer text <p>Meeting the costs of the transition to net zero emissions in a fair and balanced way – including the need to maintain the competitiveness of British businesses, particularly the most energy intensive – is a crucial issue.</p><p>The Government has taken a wide range of steps to support UK industries in reducing emissions in a cost-effective way and placed clean growth at the heart of our Industrial Strategy to ensure UK industries can seize the opportunities of a net zero economy.</p><p>We have also committed to carrying out a review of how the transition will be funded, and how the costs will fall, to ensure the UK can maintain and strengthen its economic competitiveness.</p> answering member printed Lord Henley question first answered 17/06/2019 12:34:09 answering member 2616 label Biography information for Lord Henley
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1130841

	registered interest
	date	10/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 9 May (HL15286), whether they intend to prioritise strengthening the powers available to insolvency practitioners to take recovery action where value has been extracted from a company prior to insolvency and to require any such related funds to be returned.
	tabling member printed	Lord Myners
	uin	HL16208
	answer	answer is ministerial correction date of answer 17/06/2019 answer text <p>In 2018, the Government published detailed proposals to reform corporate insolvency laws including strengthening the powers available to insolvency office-holders to challenge transactions and take recovery action where value has been extracted from a company as it approaches insolvency. The Government remains committed to introduce these changes as soon as Parliamentary time allows.</p> answering member printed Lord Henley question first answered 17/06/2019 12:31:37 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners

1130842

	registered interest
	date	10/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Takeovers: Conflict of Interests
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 20 May (HL15640), whether they have reviewed the decision-making processes in investment institutions which hold equity investments in both the offeror and the offeree in a takeover situation but on behalf of different clients and where a particular outcome might favour one group of clients over another .
	tabling member printed	Lord Myners
	uin	HL16209
	answer	answer is ministerial correction date of answer 19/06/2019 answer text <p>Asset managers act as agents of investors in their funds. They are required to manage their funds in the best interests of all of their fund investors and to appropriately avoid, manage and disclose conflicts of interests that could, and do arise between different investor groups. This is a requirement of Markets in Financial Instruments Directive II (MiFID II).</p><p> </p><p>Asset managers should have policies, procedures and governance in place to effectively manage any conflicts arising from their stewardship obligations.</p><p> </p><p>The FCA has recently published a Policy Statement (PS 19/13) ‘Proposals to promote shareholder engagement: Feedback to CP 19/7 and final rules.’ This sets out final rules to implement requirements of the Revised Shareholder Rights Directive (SRD II). SRD II introduced new requirements to improve shareholder engagement and increase transparency around stewardship. The rules came into effect on 10 June 2019 requiring asset managers to disclose and make publicly available their policies on how they engage with the companies they invest in. They also require asset managers to provide certain information to institutional investors, including occupational pension schemes. The new rules are designed to foster stewardship, and better stewardship should lead to better decision making in relation to mergers and acquisitions.</p> answering member printed Lord Henley question first answered 19/06/2019 16:42:37 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners

1130858

	registered interest
	date	10/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Motor Vehicles: Manufacturing Industries
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what steps they are taking to increase productivity in the UK automotive sector.
	tabling member printed	Lord Taylor of Warwick
	uin	HL16225
	answer	answer is ministerial correction date of answer 24/06/2019 answer text <p>The UK already has one of the most productive automotive sectors in the world. In 2018 productivity levels in the sector were at £100,600/employee, a real term increase of 4.6% over 2017, and 42% higher than overall UK manufacturing productivity. The Government has a long-standing programme of support to maintain the productivity and competitiveness of the UK automotive sector. Through our Industrial Strategy and landmark Automotive Sector Deal, we are placing the UK at the forefront of new automotive technology development.</p><p> </p><p>The Sector Deal includes £32 million of joint funding for an industry-led supply chain competitiveness programme to help improve productivity in the UK supply chain and assure international competitiveness.</p><p> </p><p>We are determined to ensure that the UK continues to be one of the most competitive locations in the world for the automotive sector. BEIS Ministers and officials regularly engage with the automotive industry, including bilaterals with manufacturers, interactions via trade associations, and through the Department’s participation in the Automotive Council.</p> answering member printed Lord Henley question first answered 24/06/2019 11:35:25 answering member 2616 label Biography information for Lord Henley
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1130870

	registered interest
	date	10/06/2019
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Anaerobic Digestion: Biofuels
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to the oral contribution of the Minister for Energy and Clean Growth of 16 October 2019, Official Report column 498, what progress the Government has made on reviewing the use of anaerobic digesters and the sustainable sourcing of biofuels.
	tabling member constituency	Gordon
	tabling member printed	Colin Clark
	uin	262415
	answer	answer is ministerial correction date of answer 17/06/2019 answer text <p>The Committee on Climate Change published their report on ‘Biomass in a low carbon economy’ in November 2018. The report was a significant contribution to the evidence base and will inform future policy development on renewable energy, including the use of anaerobic digesters and sustainability criteria for biomass.</p><p> </p> answering member constituency Kingswood answering member printed Chris Skidmore question first answered 17/06/2019 12:31:08 answering member 4021 label Biography information for Chris Skidmore
	tabling member	4650 label Biography information for Colin Clark